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Search Results 0 to 15 of about 16 (some duplicates have been removed)
's where we are today. the u.s.'s largest trading partners are struggling, and that is strengthening the economic storm that's headed over from europe to the united states shores. this week the international monetary fund cut its forecast for global growth for both this career and next year. that's the world economy and the u.s. economy. the ims cited two reasons things could get worse. first, if european leaders fail to support their ailing economies, and second, if leaders here in the united states let us plunge over the fiscal cliff. the ims sister corporation citing the same two factors cut its growth forecast for asia this week as well. that's for the next couple years. where are we going to be in 2016, four years from now, when we're discussing the next u.s. election. that depends on which of these two roads america takes on election day. i'm going to take you down both paths in this show starting with what 2016 will look look under a president mitt romney. start with jobs. he says 12 million jobs will be created in the next four years. i keep telling you that claim is ridiculo
how much economic growth that will produce. what is clear is that the 1.3% economic growth that u.s. achieved in this second quarter of this year isn't enough to make up for the romney short fall. and with the u.s. economy forecasted to grow by about 3% in 2013 and 2014, romney's plan, as attractive as it sounds, is in doubt. kevin hasset is an economic adviser for the mitt romney campaign and author of some of the economic plans. kevin, romney plans seem to assume that simple act of lowering taxes will generate enough growth to raise the revenue to pay for the steep cost of those cuts. but a lot of economists agree with that notion. it's a classic chicken and egg scenario. i talked to larry summers a couple days ago. he can't get the math to work either. >> it's easy to have an attractive tax plan if your campaign staff can make it up. the reality is that every expert who's looked at it found that cutting taxes by 20% costs $5 trillion. >> okay. let's get down to this. we understand there will be certain revenues that will come in. there will be certain revenues lost. you kept peop
americans are looking at our u.s. markets as being very, very cheap. so you look at a big chunk of those buyers in florida, for example, on foreign buyers. so many americans are taking advantage of these lower interest rates. also rental rates have gone up so much that the cost of ownership right now in many instances after taxes is less money than it costs to rent. the big challenge, though, is we're not getting enough people able to move up out of their existing houses. we're not getting enough people to relocate because they're stuck in their homes even though they're current on their mortgages, even though they qualify for their mortgages, the homes are worth so much less than their current mortgage amounts. they can't get out and they can't refinance. and so there's got to be a new policy that comes in to address that challenge. >> ali, could i mention something about housing for a second? i want to pat myself on the back for a minute here, because as you know, for the last year or two, i've been somewhat bullish on real estate and housing, and i think we are seeing, this gentleman
plans rely on big growth and this week, some of the biggest and strongest u.s. companies said the growth that we've already got is tepid and slowing. companies like caterpillar, generale electric, 3m, ford, all warning about conditions in europe and china, these are companies that are symbols of american stability, they are worried. so worried that some are laying off workers to cut costs. you remember that move. the problem here is that there's just less money coming into the united states. the candidates aren't talking about the slowdown overseas or the storm that it's fueling, but they claim that they can keep america competitive, create millions of jobs, and cut the deficit. voters understand their big ideas and they like them, but undecided voters aren't sure which guy can turn promises into economic reality. i've got two of the best political minds in the country to break this down for us. candy crowley our chief political correspondent, host of "state of the union with candy crowley" and mark preston, cnn's political director. candy, let's start with you. from the very first prima
't enough to make up for the romney shortfall, and with the u.s. economy forecasted to grow by about 3% in 2013 and 2014, romney's plan, as attractive as it sounds, is in doubt. kevin hasseth is an economic adviser. kevin, romney's plan seems to assume that the simple act of lowering taxes will generate enough growth to raise the revenue to pay for the steep cost of those cuts. a lot of economists disagree with that notion, the classic chicken and egg scenario. i spoke with secretary larry m sumners a few weeks ago and he can't get it to work, either. >> the reality is that every expert that's looked at it has found that cutting taxes by 20% costs $5 trillion. >> let's just get down to this. we understand this there will be certain revenues that will come in, there will be certain revenues lost and there is a certain amount of growth that will come from the fact that you let people keep more of their money. the issue is how much more growth you get from that. am i right? the issue is how much better is the economy because you have given everybody a discount on the taxes that they pay
west and hit the u.s. if it turns quickly it will hit the del marvo and truly affect washington, d.c. with a significant bigger punch than is forecast now. >> with hardly any drainage. >> you push that water up to chesapeake and all of a sudden you have a significant basin that will take water and it will go up quickly. that's not the forecast. if it goes up north, it takes longer to turn and then you're piling all that water into long island sound and the east river, and all that water system, they're talking about it right now, they're concerned that the water may go into the new york subway system just like we were concerned in irene, it just didn't happen. this is a more important storm than irene was and irene was a $15 billion event. >> wow. that was significant. that was connecticut hit very hard. >> connecticut, vermont, new hampshire and into new jersey. >> power was out more than a week in some locations. we'll see you again momentarily. let's check in on a state that is feeling the fury of hurricane sandy right now, and that's north carolina, the outer banks getting the
Search Results 0 to 15 of about 16 (some duplicates have been removed)